SBI-SG Global Securities Services Private Limited becomes fully operational in India

SBI-SG Global Securities Services, Private Limited, the joint venture between State Bank of India (SBI) and Societe Generale Securities Services, (SGSS), has now entered its second phase by launching  fund accounting and fund administration services and is now fully operational across all its business segments.

The joint-venture already has over 8 billion dollars in funds under administration. It started providing custody services in May 2010 and now has around 7 billion dollars in assets under custody from domestic clients and foreign institutional investors. SBI-SG Global Securities Services, Private Limited, also offers risk analysis and performance measurement.

The joint venture offers high quality services in the Indian securities market to domestic investors, including banks, mutual funds, insurance companies, pension funds, portfolio management service providers, corporates and brokers as well as to foreign investors in India. It has developed state-of-the art technology systems which ensure that all clients in India receive world-class services which meet their specific needs.

SBI-SG Global Securities Services, Private Limited benefits from SBI's strength in the Indian financial sector and SGSS' recognized expertise as one of the world's leading global custodians, providing securities services across 80 countries. SBI's offices around the world will bring prospective clients to the joint-venture, whilst SGSS will channel overseas investor business and offer global custody services to eligible Indian domestic clients. The respective strengths of the partners of the joint-venture will thus ensure that clients in India benefit from access to a unique blend of local and global expertise.